Singapore, March 21, 2012 - The Singapore National Research Foundation (NRF) announced today that it has selected Get2Volume for incubator cofounding under its Technology Incubation Scheme (TIS). The TIS was initiated to nurture early stage high-tech start-up companies in Singapore.
The TIS comes under the umbrella of the National Framework for Innovation & Enterprise (NFIE). NFIE was formulated in 2008 with a $360 million budget to advance R&D-based innovation in Singapore with a view to commercialization. Under the TIS, the NRF will co-invest with Get2Volume in Singapore-based high-tech start-ups.
For the past 7 years, Get2Volume has been focused on growing semiconductor and microelectronics centric companies in Singapore. Noted successes include Semitech Semiconductor and ConnectedHealth.
Get2Volume’s experienced team and partners enable the successful growth of emerging semiconductor and microelectronics companies. Get2Volume partners with industry leaders to provide advantages to early stage semiconductor companies. These partners include Synopsys (Semiconductor tools), Nanyang Technological University’s VIRTUS Semiconductor Centre of Excellence, the Singapore Institute of Microelectronics (IME), and National University Singapore (NUS). The Get2Volume Accelerator is sponsored by the Singapore Semiconductor Industry Association (SSIA).
“There is a real opportunity here to help the semiconductor industry grow stronger and become more vibrant and supportive of growth and innovation,” said Ulf Schneider, SSIA president. “Singapore, with its worldwide fabless semiconductor company revenue of $80 billion and an established semiconductor MNC capability, is the perfect place to facilitate the development of cutting-edge technology. Singapore has a strong semiconductor ecosystem that can be leveraged to enable a competitive advantage for start ups.”
Dr. Francis Yeoh, chief executive officer for NRF, noted that: “Many innovative ideas originate from small high-tech start-ups with good intellectual property derived from R&D. It is thus important for Singapore, with our strong emphasis on research excellence, to create an environment that will allow such innovative startups to develop and flourish. The eight incubators selected under NRF’s Technology Incubator scheme will create more opportunities for budding entrepreneurs to come under the supervision of experienced mentors - thereby increasing the chances of success.”